Form 4: Quanta Services Director Jackman Worthing Reports Acquisition of Restricted Stock Units

Director Jackman Worthing reports acquisition of 622 restricted stock units in Quanta Services, Inc.

Summary

• On May 24, 2024, Jackman Worthing, a director of Quanta Services, Inc., acquired 622 restricted stock units.
• These restricted stock units will be settled in shares of common stock on a one-for-one basis.
• The restricted stock units vest and settle on June 1, 2025, unless otherwise provided in the award agreement.
• Mr. Worthing directly owns 12,082 shares of Quanta Services, Inc., which includes unvested restricted stock units and vested restricted stock units for which settlement has been deferred.
• The reporting person may elect to settle up to 50% of the restricted stock units in cash.
• The price of the restricted stock units is $0.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction of stock units to a director. It's a routine part of executive compensation.

Future Outlook

The restricted stock units will vest and settle on June 1, 2025, potentially increasing Worthing's holdings of Quanta Services common stock.

Industry Context

This filing reflects routine executive compensation practices within publicly traded companies, where stock-based compensation is used to align the interests of management with those of shareholders.

Comparison to Industry Standards

• Stock grants are a common form of compensation for directors in publicly traded companies like Quanta Services.
• Companies such as AECOM, Fluor Corporation, and Jacobs Engineering Group also utilize restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these grants are generally aligned with industry standards to incentivize long-term performance and retention.

Stakeholder Impact

• The acquisition of restricted stock units aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.
• The vesting of these units could increase the number of outstanding shares, potentially diluting existing shareholders' equity.

Key Dates